Day Trading Power Review

Day Trading Power

Honest

Quality

Verified Trades

User Experience

3.4

Summary

A surprising good stocks day trading room. Moderator really trades and keeps an honest daily log of trading results posted on website. Was able to copy the moderators trades with >95% accuracy. If you want to learn how to scalp day trade with a small trading account, this is a good option.

Sending

User Rating2.8(5 votes)

Comments Rating1(2 reviews)

Pros:Honest and verified results posted daily on website. Very consistent daily income. Stock day trading and scalping for small accounts. Was able to copy the trades of moderator with a high degree of accuracy. Inexpensive at only $77 each month.

Cons:This style requires either a US based prop trading firm, or a foreign prop trading firm. US based requires a series 7 license. Outside US can skirt the regulators, but you are risking your money outside the US.

Indepth Review of Day Trading Power

Writing trading reviews can be really depressing. Its difficult finding a gem. I found one. Today’s review is about a company named Day Trading Power. A stocks day trading room run by Chris Grosvenor out of Canada. This room originally came onto my radar in the summer of 2014. What caught my eye and really piqued my interest was the list of trades taken by the moderator. The list was long and thorough and looked great, but probably too good to be true. Rows of winners and very few losers. Admittedly, I thought that this must be a hustle. Nobody could be this good. And another red flag, if the moderator was so good, then why the cheap monthly cost of only $79?

The Review Process Begins

Late in the summer of 2014, I contacted Chris using a pen name and requested a trial subscription. He complained a little about offering the free trial, but I got it. I then had my assistant begin recording the trading sessions with Camtasia. Over the next 14 days, we collected nearly 80 hours of video recordings. We simply logged into the trading room, began recording and then stopped recording after the New York trading close. The recordings are typically replayed and processed within a couple of weeks of recording. The processing then requires that we watch the video and mark each entry and exit point that the moderator calls in the room. Each trade must be marked and then added to a spreadsheet. The spreadsheet is then compared to the posted performance on the website. Since Day Trading Power was highly active, and I was highly skeptical, the video did not get processed until December 2014.

Late 2014, my assistant processed the first week of trading video that we had captured. I was pretty amazed to see that the trades called in the room matched at over 95%, which is great. The second week we also got over a 95% match. We processed several hundred trades, which took a huge amount of time and effort on my assistants part, and all I remember was she telling me that we had found a good one. Keep in mind that she works remotely from the Philippines and her English is not perfect, yet she was able to understand the video with clarity and was able to clearly capture the trades. The fact that she could do this is a pretty good harbinger of how well a native English speaker is going to be able to follow the moderator in the trading room.

The Next Step In The Review

The next part of the review process is where we actually log into the trading room and attempt to copy the trades using a simulator. Many people would say that using a simulator is not really a realistic way to do this. However, a simulator is actually better than a real, live money account. Why? Because a simulator can be set so that no orders can be filled on a limit price. In other words, the entry and exit price must actually trade through and not just touch. A real live money account will sometimes fill a limit order, but a conservative simulator will not, which makes it a much better way to determine the authenticity and expectancy of future trading performance. Anyway, back to our simulator account and what we experienced at Day Trading Power. The first 2 days, my assistant copied each trade on a simulator and to our surprise, she actually performed better than Chris. It was not by much, but she actually got better fills on a 6 different occasions. This was probably do to the fact that Chris got a fill at Exchange A, while my assistant got a fill confirmation on Exchange B. Regardless, we were pleasantly surprised. Next step is for me spend a few days in the trading room and take a close and critical examination.

My Personal Experience With Day Trading Power

I spent the week of January 5th through January 9th sitting in the Day Trading Power trading room. I had no idea why Chris was entering or exiting, he teaches the set ups separately. All I wanted to do was enter and exit on a simulator and record what happened. On Day 1 I recorded 34 trades, with 29 winners and only 5 losers. I traded a standard 100 share lot, and made a meager sum of about $100 for the day, after commissions. Chris was trading about 500 shares average and made about $500 for the day.

Days 2, 3, 4 and 5 were more of the same. About 30-40 trades each day, with profits averaging just short of $200 for the day. This might not sound like much, but considering that I had nearly no draw down, and that the room was active, easy and pretty fun to trade, its really hard to find something to be critical about. I was really impressed that a simulator set on the most conservative settings could actually replicate very closely what Chris was doing.

One thing that sort of concerned me was the amount of commissions that were being paid out to trade this type of trading style. I emailed Chris and discovered that he spends an average of about 15% of his profits on trading commissions. Folks, you cannot make any money with this if your account is with Schwab, Scottrade, Etrade or any normal retail broker. You need to go for the thinnest possible trading commissions to make any real money with this.

Another Consideration

This is a highly active stocks day trading room. And stocks day trading means that if your broker is located in the United States, then you must either keep and maintain a balance of $25,000 or keep your day trades to three or less. Most people do not have $30,000 in available minimum money. So then this leaves two possible solutions. The first is get a series 7 license and trade through a prop firm. The second option, and the easiest option is to open a prop trading account in a another country that is not bound to US trading regulations. If this seems sketchy to you, it does for me as well.

What Does Day Trading Power Recommend?

In speaking with Chris, he uses a prop shop located in Ontario, Canada. The name is Nonko and you can read more at www.nonkotrading.com. If Canada seems a little too sketchy, then please review my United States based stock trading prop shops. They do require a series 7 but at least you have an extra layer of security knowing that the company is located in US. Regardless, I do not believe that this should not be a major hindrance to getting into the game.

Wrapping Things Up

At the end of the day, I am really impressed with Day Trading Power. Chris is honest and he really cares about his “tribe”, he takes his time to make sure everyone knows exactly what he is doing with his trades. Everything is very transparent and open, no limit order fake trading that we see so much of in the trading education community. This guy really trades, and he really does make money. Yes, he trades a scalping style that can be faster paced and expensive, but the upside is that the trading days moves pretty quickly and is quite entertaining.

Advice For The Newbie

If you take the plunge on Day Trading Power, I recommend that you start with simulator for the first week. Do your best to copy exactly what is happening. Do not focus on the why, just focus on being a clerk. Copy and master your entry and exit orders, you will thank me later. If after a week, you were able to copy and make a profit with the simulator, then I would recommend purchasing the manual which contains all of the set ups. The cost is $150, which in my opinion is hardly anything. Once you have the manual, then you can start to really synthesize the what and why of Chris’s methods.

Once again, thanks for reading. FYI, I am in the process of opening a prop account and will be trading a live account in the weeks ahead at Day Trading Power. Check back with me for an update on how things are going with my trading. And don’t forget to leave comments below.

Hey Rob, I agree that a lot of his trades are small scalps, but I thought I should mention his co-moderator Matt is a gap trader, and has a good gap play almost every morning for a large scalp. So I’m getting the best of both worlds for my money. I’ve been in several rooms but this is the only room I have ever made money with. FWIW. Anyways DTP can have a losing day here or there but I’ve never had a losing week. Are you still trading with him?

Not quite as good as my first week Jay. I had some major losses early on one day (over $600)- which was honestly admitted by the moderator- and wasn’t up to taking more trades . But the room went on to get back most of the money that day (minus me:( ). Another issue that rubs is that most of the trades are for small amounts whereas I prefer to look for larger runups: an imbalance between my inclinations and how most of the trades are run. Also I am more of a breakout trader looking to get onboard as… Read more »

Thanks Robert for the very detailed response! i was only able to try them for a short period but they seemed pretty legit compared to others out there. The only thing that kind of put me off was the disclaimer that basically says the trades are simulated? , ” CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF… Read more »

Not including this disclaimer can open up a big can of worms for these guys. Why? If they include the disclaimer, the chance of an audit from the CFTC is greatly reduced. If they do not include the disclaimer, they will definitely be audited. If audited, and they prove performance, then they will be asked to register as a CTA. Its basically a lose/lose situation for the educator.

I joined the room a week ago after reading Emmetts review. So far I have had a reasonably positive experience and made a little money. The trades are posted well in advance unlike some of the futures rooms ( trade mission and tradermakers). Also the flexibilty in position sizing – it being a stock room- gives it an advantage over futures trading. My account with Interactivebrokers has almost 40,000 segregated for equities , which allows enough enough size for now but I may add another 30,000 if I decide to up my targets. At any time there will be zero… Read more »

i have a few questions for you. At what time do they open the trading room ? Until what time do they trade ? Can you trade only one or two hous ? What time frame do they trade ? Did you find any Prop Firm with .003 per share ? Thanks

Day Trading Power opens at 630am EST. And he is very active. Trades usually the entire day. You can trade for one or two hours, but of course your performance is going to be more varied because you will be missing a lot of trades. Personally, I do not enjoy being this active. I might do 6 trades each day, for my own account. Regarding Prop Firm Pricing. I forget to mention in the review that I asked each Prop Firm what would be the pricing if I traded 300k shares each month. All prop firms were required to give… Read more »

Thanks Emmett. , I understood wrong or they start trading on pre-market 3 hours before the opening ring on US Stock Exchange ? You did not answer what time frame do they use in their charts ? Are you currently trading with them ? Do they use a Gap trading Strategies ? I like the results that they show every month, although I dont know much risk they are taking in each trade.

Hey guys, just wanted to weigh in on the comparison between Mojo and daytradingpower. They are definitely not the same. Chris rarely scales into his trades by adding more shares to his picks when the stock moves in the opposite direction whereas the Mojo guy is always adding more and more shares and is much more difficult to follow.

I like Day Trading Power. But one big caveat…make sure you using a prop firm, or not paying more than .003 per share. If you are paying more than .003, then the only person making money will be your broker. Check back on Sunday, I will be publishing a comprehensive list of prop trading firms, as well as bring some clarity to what can be a confusing trading arrangement.

Hi Arnold, Sorry I have been MIA, have been swamped reviewing videos. Am getting close to completing Ace Trades. Interesting room. I dont want to say anything yet. Mojo day trading is definitely not the same personality as Day Trading Power. This mojo guy seems pretty zany on his videos. Of course, I have learned to have absolutely no opinion until I watch the recordings of live trades. Some of the guys I thought that I could trust turned out to be great salesman. And some of the guys that I thought seemed very shady, turned out to be good.… Read more »

OMG does Mojo suck. I was a member for about 3 days until I just couldn’t stand another minute of it. It’s run by an effeminate douche named Mike that blurts out a number of entries right after the open and then walks off to practice his golf swing while the newbies accounts are blowing up. Needless to say I never took one of their trades. I watched in horror as newbies tried to get out of trades that they were upside down in by 2% after the the douche called it. Instead of helping, Mike goes to his minion… Read more »

Agreed on of the biggest crooks out there! Ive watched him kick people out of chat then brag about how he wont refund there money. When he loses on a trade a just hides it, and when you ask a question about that trade? He claims your raising a red flag, and kicks you out of the room. He is not professional at all. Even beat up a old guy at the golf course with a golf club Google Michael Rich youll see. Not recommended a complete fraud

Mojo Day Trading SUCKS! Sure you need a prop firm to trade it and that is fine. The horrible part is Pro Trader Mike is an asshole, thinks everyone is going to steal his shitty ideas that he stole from books claiming its his strategy. I took mojo university, what a waste of money. the 6 months I was with Mojo I actually won on his trades about 1 out of 10. He even emailed me giving me free months of his service if I write him a good review and that’s the only reason I was there that long…… Read more »

Can you say SCAM! He has a “free” xmas special on for a week this week Dec 21-24, 2015. I joined at 11:30 am to check it out. Apparently they are done by 10:30am daily :0>. In any case scrolling through the chat I could only see PTMike’s commentary and it was VERY vague about entry and exit points, if no one else saw this I am very concerned all he was saying is sold at x price, but without an entry the trade can not be verified. After calling him out on why he was not disclosing entries just… Read more »

I agree, it’s a 3 card Monty Game, he tells people to Buy things he has already bought, getting him out of his position. All the while “Trader Alan” says he made money every day and on every trade (3 Card Monty like) Anyone who says they lost is ridiculed and told to take a $1,700 course to improve their trading (a series of pre-recorded Videos) Also he has however many fake people in the room it takes to get to 100, yet only 30-40 people take the Poll, and if someone says they lost on the Poll, they redo… Read more »

I have been following Mojo day trading for about a week. So far, he has entered trades below prices that were ever reflected on my IB account, told the room repeatedly that he entered and exited trades .01 to .02 cents above the highs and lows (backdating his entries and exits), and constantly refers to his imaginary friend named Alan. Google his name with the word assault (Michael Rich assault) and you’ll get to read all about him beating up some 65 year old guy on a golf course with his golf club(picture included in case your wondering). Hey Mike,… Read more »

completely agree he is full of shit, disrespectful to anyone who disagrees with him and will ban you on a whim, it’s all a sales tactic to pressure you into joining. I believe he makes ALL of his money suckering idiots to join his group and pay him $100 to $150 month (extra $50 for swing trades which are usually 60% red until the last day of the month when he miraculously labels 95% green! Most are at 2 cents above buy so unless you are buying $50,000 worth of stock there is little to no money in the trade.… Read more »

Thank you for the reviews, It is saving my lots of time looking for honest trading advise. I would like you to remember that the taxes are a pain with this many trades too. You need to record every day in spread sheet or some other method. $5 -7 dollars per trade very low and lots of risk for little money. I heard about a trading school in Austin Texas trading like similar.

Hey Craig, You are right about the recording of trades and dealing with taxes. This can certainly add to trading costs. To me, if the profits are right then I can put up with tax headaches. Regarding Day Trading Power, just make sure you have the time to devote to this room, they trade the entire day. Make sure your trading costs are extremely low because you are going to be moving about 300,000 shares a month. And then of course, you need an account greater than $25k or a prop account which requires a series 7. A few hurdles… Read more »